Taylor Morrison Home Corp. (TMHC)
By Tue, Jan 26, 2021
Hey there,
Today’s Chart of the Week is a midcap home building company ready to break out of a 7-8 year consolidation.
Taylor Morrison Home Corp. (TMHC) has built a beautiful base, and now it’s ready to soar.
This is a great buy for all the right reasons: Strong sector, positive momentum, relative strength, and risk to reward ratio skewed heavily in our favor.
We are buying TMHC if it’s above $28.50 with a price target of $42.
That’s a 50% return with extremely limited and defined risk.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
